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Why doesn’t online banking use u-shield?

Hello, the China Banking Regulatory Commission and the People's Bank of China are strict in their investigation. There are many online frauds. U-Shield can transfer large amounts. Some banks' U-Shield is 5 million or more per day. You buy a USB-Shield, and then lend the card and USB-Shield to others, and they use it to defraud, and then it becomes very difficult to deal with.

For large transfers exceeding 50,000 yuan, mobile phone transfers are completely impossible, and U-shield must be used! And now that mobile phone plug-ins are so complicated, shieldless transfers always feel unsafe. Unless there is new technical support, U-shield will still be used for every transfer!

Recently, China Construction Bank and Huawei jointly launched Mobile Shield payment. Using Huawei mobile phones with built-in Kirin 960 and 970 series security chips, one-stop mobile payment can be realized on the mobile phone without the need to insert physical security media such as USB shields.

This product has been piloted in Shenzhen Branch of China Construction Bank and is currently only applicable to corporate customers’ transfer payments. It is foreseeable that in the near future, large personal transfers will also enter the U-shield-free era.

In 2003, ICBC was the first in China to launch a tool for electronic signature and digital authentication for online banking. It was named "U-shield" because its shape resembles a USB flash drive and its security performance is like a shield. For more than ten years, domestic commercial banks have generally introduced this tool, and have continuously upgraded its security performance and user experience. They have successively launched innovative second-generation U-shields with displays, universal U-shields for computers and mobile phones, and Bluetooth U-shields. Shield etc.